Apple announced three new subscription services, including a TV service, gaming bundle, and all-you-can-read magazine subscription on Monday at its campus in Cupertino, California. Apple also announced an Apple-branded credit card in partnership with Goldman Sachs.
Apple stock was down almost 2% during intraday trading on Monday after the event.
The iPhone giant is focusing on subscription services at a critical time for the company as it searches for new areas of revenue growth to compensate for stalling iPhone sales.
“We’ve also been creating a growing collection of world-class services, and that’s what what today is all about,” Apple CEO Tim Cook said on Monday.